Andersen Tax LLC Leases 26,000 SF At 71 S. Wacker Dr, Chicago
71 S Wacker Dr, Chicago, IL, 60606
Building Size
26,000 SF
Asset Type
Office
Closing
Jan 17, 2018
About this deal
AI
Located at 71 S Wacker Dr, Chicago, IL, 60606, the property asset under discussion is an iconic 48-story trophy tower acquired by Irvine Company Office Properties in 2010 for $625 million. This office building spans 26,000 square feet in Chicago's vibrant market, housing prestigious clients in various industries.
Summary of transation details:
- Property Type: Office
- Transaction Amount: Not specified
- Tenant: Andersen Tax LLC
- Landlord: Irvine Company Office Properties
- Square Feet: 26,000
- Tenant's Rep: Steve Schneider (Cushman & Wakefield)
Key individuals and companies involved in this deal include JAMS and Andersen Tax LLC. JAMS, a long-time customer at 71 S. Wacker, will expand its presence by 19,000 square feet. Andersen Tax LLC, a founding member of Andersen Global, is relocating from 222 W. Adams to take up 26,000 square feet in this prestigious office tower. Noteworthy representatives in this transaction include CBRE’s Todd Lippman and Jarrett Annenberg for JAMS, Cushman & Wakefield’s Steve Schneider for Andersen Tax, and JLL’s Brad Despot and Annie Nicolau representing The Irvine Co.
On the Map
Office
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93